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Thursday, May 6, 2010

Wednesday, during regular trading hours, there were many stocks that continued to break out to the upside. Below is a list of stocks that are worth watching for May 6, 2010. Also, check out some of the biggest stock gainers of the Day. You can also find previous stocks to buy reports - Right Here

Stocks to Watch - 5/7/10 - Stock Market Investing Ideas

Pacific Capital Bancorp (PCBC) - Shares of Pacific Capital Bancorp were up for a third straight day on Thursday and continue to be the only bright spot in this stock market. Keep it high on your watchlist but this is a trading stock only.

Power-One Inc. (PWER) - Shares of Power-One Inc. sold off to below $7.40 again on Thursday and produced another nice bounce. At this point, I think you have to wait for another plunge below $7 to reload again.

Keryx Biopharmaceuticals Inc. (KERX) - Shares of Keryx Biopharmaceuticals Inc. had a nice day on Thursday due to the following news: Keryx Biopharmaceuticals Initiates Phase 3 Registration Program of Zerenex (ferric citrate) for the Treatment of Patients with Hyperphosphatemia. Resistance is now located at $6.10

Netflix, Inc. (NFLX) - Shares of Netflix, Inc. were down again on Thursday. Look for another chance to buy this stock between $90-$95.

Bank of America Corp. (BAC) - Shares of Bank of America Corp. closed below the 200 day moving average which is bearish for the short term. However, banks really got beat up today and never really recovered after the trading glitch. I like BAC below $16 if we see another plunge.

American Intl Group, Inc. (AIG) - Shares of American Intl Group, Inc. were very strong before the trading glitch happened. If we don't have anymore problems, AIG should rally back to $38-$39 soon.

Sirius XM Radio (SIRI) - Shares of Sirius XM Radio closed at support of $1.00. If $1.00 doesn't hold going, I think we could see a retest of $0.90 again.

Ambac Financial Group, Inc. (ABK) - Shares of Ambac Financial Group, Inc. are now trading below $1.50. I think you can buy Ambac for a trade if it breaks up through $1.55

Cell Therapeutics, Inc. (CTIC) - Shares of Cell Therapeutics, Inc. are now trading below the 10 day moving average located at $0.59. Right now, I'd be avoiding Cell Therapeutics until it breaks above $0.70.

Advanced Micro Devices Inc. (AMD) - Shares of Advanced Micro Devices Inc are now trading well below the $8.75. I'd be a buyer of the stock traded back above $8.75 going forward.

Research In Motion Ltd. (RIMM) - I continue to like pullbacks below $70 as a long term buy.

The Dow Jones Industrial Average closed at 10520on 5/6/10, as the stock market tanked on more fears out of Greece. The day started with the Dow Jones Futures higher by 40 points but then turned lower by 100 points at the open. Toward lunch time, the Dow Jones start a steady decline and then the riots started up in Greece. The Dow then fell from down 200 to down 300 and quickly accelerated to the downside. At around 2:30pm EST, all hell broke lose with an apparent glitch on computer trade gone bad. The Dow Jones was down over 900 points with companies such as Apple down over 20% to 200. Within 5 minutes, the Dow Jones went from down 900 back to only down 400. CNBC has been reporting that this was a human error at a major Wall Street firm. With this error, the Nasdaq then broke down and started glitching. The New York Stock Exchange has reported no glitches at all.

As for the jobs report tomorrow, I don't think anyone really cares at this point. A huge buying opportunity was created today and we will have to see whether more such opportunities present themselves over the next few days.

The following is a list of the Most Popular OTC, OTCBB, Pink Sheets Stocks going into 5/7/10. Topping the list today is ACT Clean Technologies, Inc. This list shows you which stocks traders and investors consider " Hot " which makes for great trading. These are the stocks that I will be monitoring today and tomorrow for daytrading opportunities.

This list is my favorite way to track potential breakout OTC stocks and is not produced anywhere else! It takes into account percentage gainers or losers, volume, and how active the stock has been lately. The higher the rank, the closer I am watching. Check out my Previous Reports

May 6, 2010 - Below is a list of the Top 20 biggest losing stocks today that have decent volume. These stocks are usually going down on bad news. I usually throw these on my watch list and monitor them for a bounce or a potential short trade.

Today, May 6, 2010, there are several stock gainers that are breaking out with some nice momentum. If you are looking to day trade today, you might want to check out the following stocks. Check out some of today's biggest gainers and the Top Stocks for 2010. You can find my Past, Current, and Future Stock Gainers Report Right Here

Today, 5/6/10, there are a few penny stock gainers breaking out to the upside. Be sure to check out the Top 2010 Penny Stock Gainers on the NYSE, Nasdaq, and AMEX. We also list OTC and Pink Sheets stock gainers below. You can find ALL Penny Stock Reports Here

Ford (NYSE:F) dropped off a cliff yesterday but recovered nicely at the end of the day. Ford is trading around $12.40 so far today. I view this pullback as a strong buy for the long term and would be adding on any dips below $12. I can't see this stock going much lower then we saw yesterday.

Apple Inc (AAPL) dipped below $250 for a brief moment on Wednesday which was close to my below $245 buy zone. If I see Apple Inc fall below $245 at any time, I plan to take a long position. If we see a further correction in the stock market, I feel the stock could correct back to the 50 day moving average which should hold. Resistance is now located at the 10 day moving average.

The BDI data is critical for how the DryBulk Shipping Stocks such as DryShips Inc ( DRYS ), Excel Maritime Carriers Ltd (EXM), Diana Shipping Inc ( DSX ), Genco Shipping & Trading Limited ( GNK ), TBS International Limited ( TBSI ), Navios Maritime ( NM ), Eagle Bulk Shipping Inc. ( EGLE ), Paragon Shipping Inc. ( PRGN ), Star Bulk Carriers Corp. ( SBLK ), and OceanFreight Inc ( OCNF ) will trade during the day. As you probably know, the Dry Bulk Shipping index can tell you a lot about the state of the World Economy. When Bulk Shipping Rates are at all time highs, the World Economy is outstanding. When Bulk Shipping Rates are as low as they have been lately, it signifies that the world trade has come to a screeching halt
http://www.dowjonesclose.com/bdi.html

Wednesday, during regular trading hours, there were many stocks that continued to break out to the upside. Below is a list of stocks that are worth watching for May 6, 2010. Also, check out some of the biggest stock gainers of the Day. You can also find previous stocks to buy reports - Right Here

Pacific Capital Bancorp (PCBC) - Shares of Pacific Capital Bancorp soared for the second straight day on Wednesday. Keep an eye on $2.62, I think the stock can run if that price is broken.

Power-One Inc. (PWER) - Shares of Power-One Inc. gapped down huge at the open on Wednesday so I ended up buying the stock. The stock then surged and I ended up selling for a nice profit. I'd be a buyer again below $7.40. $8.00 should be a nice support level.

Keryx Biopharmaceuticals Inc. (KERX) - Shares of Keryx Biopharmaceuticals Inc. are rallying in wake of the Dendreon news. Keryx Biopharmaceuticals Inc. has a colorectal cancer drug which was given fast track status by the FDA. The stock finally sold off on Wednesday.
As long as $5.80 is held, I like this pullback.

Netflix, Inc. (NFLX) - Shares of Netflix, Inc. hit a low of $96.00 on Wednesday. If Netflix closes below $97.80, I think we will finally get another shot to buy this stock between $90-$95.

Caterpillar Inc. (CAT) - Shares of Caterpillar Inc. dropped below $65 on Wednesday. This was a solid buying opportunity and will continue to be below $65.

Bank of America Corp. (BAC) - Shares of Bank of America Corp. dropped below $17 on Wednesday which was a strong buy! Resistance continues to be located at the 50 day moving average. Pullbacks below $17 are a strong buy going forward.

American Intl Group, Inc. (AIG) - Shares of American Intl Group, Inc. broke down below $37 on Wednesday which provided a great buying opportunity for a trade. I continue to like pullbacks below this level.

Sirius XM Radio (SIRI) - Shares of Sirius XM Radio continue to take a hit after releasing earnings on Tuesday. The stock hit my $1.25 target on Monday but I still think there is some room on the upside. Resistance is located at $1.25 going forward.

Ambac Financial Group, Inc. (ABK) - Shares of Ambac Financial Group, Inc. are trading around $1.50 and seem to be basing here. Ambac will not get delisted which is positive for the short term. Resistance is now located at $1.63.

Cell Therapeutics, Inc. (CTIC) - Shares of Cell Therapeutics, Inc. are now trading below the 10 day moving average located at $0.62. Right now, I'd be avoiding Cell Therapeutics until it breaks above $0.70.

Advanced Micro Devices Inc. (AMD) - Shares of Advanced Micro Devices Inc are now back around the $8.75 support level. I view this as a buying opportunity, I think $9.25-$9.50 is right around the corner.

Research In Motion Ltd. (RIMM) - I continue to like pullbacks below $70 as a long term buy.

Direxion Daily Financial Bear 3X Shares (FAZ) Daily Finan. Bull 3X Shs(ETF)(FAS) - FAS has a stock split on Wednesday and is now more attractive for more investors. Although it is all about percentages, people are more likely to buy a stock if the price is lower. I would view any pullback of FAS below $30 as a solid buying opportunity.

Wednesday, during regular trading hours, there were many stocks that continued to break out to the upside. Below is a list of stocks that are worth watching for May 6, 2010. Also, check out some of the biggest stock gainers of the Day. You can also find previous stocks to buy reports - Right Here

Pacific Capital Bancorp (PCBC) - Shares of Pacific Capital Bancorp soared for the second straight day on Wednesday. Keep an eye on $2.62, I think the stock can run if that price is broken.

Power-One Inc. (PWER) - Shares of Power-One Inc. gapped down huge at the open on Wednesday so I ended up buying the stock. The stock then surged and I ended up selling for a nice profit. I'd be a buyer again below $7.40. $8.00 should be a nice support level.

Keryx Biopharmaceuticals Inc. (KERX) - Shares of Keryx Biopharmaceuticals Inc. are rallying in wake of the Dendreon news. Keryx Biopharmaceuticals Inc. has a colorectal cancer drug which was given fast track status by the FDA. The stock finally sold off on Wednesday.
As long as $5.80 is held, I like this pullback.

Netflix, Inc. (NFLX) - Shares of Netflix, Inc. hit a low of $96.00 on Wednesday. If Netflix closes below $97.80, I think we will finally get another shot to buy this stock between $90-$95.

Caterpillar Inc. (CAT) - Shares of Caterpillar Inc. dropped below $65 on Wednesday. This was a solid buying opportunity and will continue to be below $65.

American Intl Group, Inc. (AIG) - Shares of American Intl Group, Inc. broke down below $37 on Wednesday which provided a great buying opportunity for a trade. I continue to like pullbacks below this level.

Sirius XM Radio (SIRI) - Shares of Sirius XM Radio continue to take a hit after releasing earnings on Tuesday. The stock hit my $1.25 target on Monday but I still think there is some room on the upside. Resistance is located at $1.25 going forward.

Ambac Financial Group, Inc. (ABK) - Shares of Ambac Financial Group, Inc. are trading around $1.50 and seem to be basing here. Ambac will not get delisted which is positive for the short term. Resistance is now located at $1.63.

Cell Therapeutics, Inc. (CTIC) - Shares of Cell Therapeutics, Inc. are now trading below the 10 day moving average located at $0.62. Right now, I'd be avoiding Cell Therapeutics until it breaks above $0.70.

Advanced Micro Devices Inc. (AMD) - Shares of Advanced Micro Devices Inc are now back around the $8.75 support level. I view this as a buying opportunity, I think $9.25-$9.50 is right around the corner.

Research In Motion Ltd. (RIMM) - I continue to like pullbacks below $70 as a long term buy.

Direxion Daily Financial Bear 3X Shares (FAZ) Daily Finan. Bull 3X Shs(ETF)(FAS) - FAS has a stock split on Wednesday and is now more attractive for more investors. Although it is all about percentages, people are more likely to buy a stock if the price is lower. I would view any pullback of FAS below $30 as a solid buying opportunity.

Citigroup Inc (NYSE:C) is trading flat in afterhours tonight after the stock closed slightly below the 50 day moving average. Citigroup Inc should find some support between $4-$4.20 for the time being. I started a long term position today and plan to add on a break below $3.90 or a break above $4.36 which was Tuesday's high.